|Carbon Sciences to Benefit from Obama Administration|
|Legislation may come early next year to speed a transition to an economy fueled by renewable energy sources |
Santa Barbara, CA - November 12, 2008 - Carbon Sciences, Inc. (CABN), the developer of a breakthrough technology to transform carbon dioxide (CO2) emissions into gasoline and other fuels, today commented on potential benefits from the Obama administration's emphasis on developing renewable energy sources. Industry observers forecast that legislation may come early next year to speed a transition to an economy fueled by renewable energy sources.
Independence from foreign oil has been a goal of the United States since the energy crisis of the 1970s. However, global economic and geopolitical incentives were not present to justify sweeping changes to US energy policies. However, with a world plunging into recession, national security issues resulting from decades of dependence on imported oil, and record high unemployment, world leaders are saying that now is precisely the time to launch a global revolution to unravel the current unsustainable energy ecosystem.
President elect Obama is pushing for a comprehensive overhaul of US energy policies with his "New Energy for America" plan. The plan calls for the US to "strategically invest $150 billion over 10 years" in a "clean energy economy" that will "help the private sector create 5 million new green jobs, good jobs that cannot be outsourced." With only 3 percent of the world's oil reserves, the US cannot drill its way to energy security. Obama envisions the development of new technologies that can produce synthetic petroleum from sustainable feed stocks as the solution to break American addiction to oil. Obama wants at least 60 billion gallons of advanced biofuels by 2030. In solving the energy problem, Obama believes that he can solve the employment problem which will ultimately ensure long term economic prosperity.
Derek McLeish, CEO Carbon Sciences, commented: "The world is highly dependent on the existing transportation and fuel delivery infrastructure. Automobiles, trucks, trains and planes powered by portable fuels are crucial to our way of life. Other alternative fuel technologies, such as fuel cells and hydrogen, require substantial infrastructure changes in order to meet the energy and climate challenge. Carbon Sciences' technology enables a sustainable world of fuel consumption and climate stability by transforming CO2, a massive byproduct of fuel usage, into a synthetic petroleum fuel. For example, our technology can be used to transform CO2 from fossil fuel power plants into gasoline to run cars and jet fuel to fly aircraft. The timing for our technology couldn't be better and we look forward to the highly anticipated legislative changes next year in support of renewable energy technology."
President elect Obama's "New Energy for America" plan can be found at: http://www.barackobama.com/pdf/factsheet_energy_speech_080308.pdf
About Carbon Sciences, Inc.
Carbon Sciences, Inc. is developing a breakthrough technology to transform carbon dioxide (CO2) emissions into the basic fuel building blocks required to produce gasoline, diesel fuel, jet fuel and other portable fuels. Innovating at the intersection of chemical engineering and bio-engineering disciplines, we are developing a highly scalable biocatalytic process to meet the fuel needs of the world. Our solution to energy and climate challenges is a sustainable world of fuel consumption and climate stability by transforming CO2 into fuel. For example, Carbon Sciences' breakthrough technology can be used to transform CO2 emitted from fossil fuel power plants into gasoline to run cars and jet fuel to fly aircraft. To learn more about the Company, please visit our website at http://www.carbonsciences.com.
|Date: Wednesday, November 12, 2008|
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